Samanage, an IT service desk services company based in Cary, has agreed to be acquired by SolarWinds, an IT management software company based in Austin, Texas, for $329 million.

SolarWinds plans to fund the transaction primarily with its existing cash balance. The transaction is expected to close before the end of June 2019.

In the past seven years, Samanage has built a product guided by a customer-centricity that aligns well with SolarWinds’ mission of serving the technology professional community.

SolarWinds plans to add the Samanage products to its IT Operations Management portfolio beginning in April 2019.

“We are excited about the opportunity to bring our products together with the reach and strength of SolarWinds to enable IT organizations in companies of all sizes to achieve better business outcomes,” said Samanage CEO Doron Gordon in a statement.

Samanage offers incident management, problem management and an employee service portal. In addition to its Cary office, Samanage has offices in San Francisco, Australia, the United Kingdom, Netherlands and Israel.

SolarWinds’ products provide the power to monitor and manage the performance of IT.

“For 20 years, SolarWinds has been committed to making IT look easy by arming technology pros with the powerful tools they need to solve today’s IT management challenges,” said SolarWinds CEO Kevin Thompson. “We do this by responding to well-understood, everyday problems based on input and feedback from our customers and the IT professionals that we serve.”

According to the International Data Corp., IT service management represents a $6 billion market today and is forecasted to reach over $8.5 billion by 2023.

Mid-market and smaller businesses are underserved in the space, as existing offerings tend to focus on complex enterprise solutions that require dedicated staff and expensive professional services engagements.

SolarWinds closed Thursday at $18.62, down 2.21 percent from its previous close.